Court rulings vacating arbitration awards are few and far between. Arbitration appeals are usually uphill battles, and the standard applied by courts to arbitrators’ rulings are among the most deferential in the law. Against this backdrop, Raymond James v. Bishop , a Feb. 22 decision by the 4th U.S. Circuit Court of Appeals, presents some rare support for parties seeking vacatur of an arbitration ruling.
According to the opinion, Thomas Bishop, Steven Hamant and Timothy Scanlon were financial advisers in Raymond James’ Richmond, Va., branch office. After complaints were received, they were told they would be terminated, but they voluntarily resigned before Raymond James terminated their employment.
